Hayfin taps former GIC exec to co-lead Europe PE – exclusive

Hayfin Capital Management has appointed a former GIC executive as co-head of its private equity funds team, Private Equity International has learned.

Erroz: joins from US insurer Allstate Investments

Gonzalo Erroz will lead the London-based manager’s private equity funds team alongside Mirja Lehmler-Brown and Narcisa Sehovic, according to a source with knowledge of the matter. He joins from US insurer Allstate Investments where he was head of the London office.

Erroz, who joins as managing director, will be responsible for Hayfin’s European mid-market investments. A Hayfin spokeswoman confirmed his appointment but declined to comment further.

It is understood that Hayfin’s private equity funds team, which was launched last year, provides capital to European mid-market GPs through primary and co-investments as well as single-asset and GP-led secondary transactions.

The firm’s PE funds strategy is seeded by Canadian pension British Columbia Investment Management Corporation, which acquired an undisclosed majority stake in the firm in 2017. It is unclear how much Hayfin has deployed thus far for its private equity funds strategy.

Erroz spent almost a decade at Allstate Investments, a Northbrook, Illinois-headquartered insurance firm with around $89 billion in assets. During his time at Allstate he was managing principal in charge of private equity investments in Europe, Asia and Africa covering buyouts, growth, mezzanine and secondaries. He had previously spent three years with Singapore sovereign wealth fund GIC’s private equity team, according to his LinkedIn profile.

According to its website, Hayfin has invested over €17 billion of capital since 2009 in more than 300 portfolio companies across private credit strategies.